Aetna Life & Casualty’s 1988 profit fell...

Aetna Life & Casualty’s 1988 profit fell 23% from the previous year to $713 million. Revenue rose to $24.3 billion, up 5%. The Hartford, Conn.-based insurance company said the results were due in part to a continuation of a relatively modest down phase in the property-casualty cycle and higher-than-expected loss expenses in its auto and homeowner business.

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